Acquired Sales Corp. (AQSP) has closed its previously announced acquisition of model-driven, Big Data management leader Cogility Software Corporation (www.cogility.com), a software solutions provider for the U.S. defense and intelligence communities and commercial customers. Cogility, based in San Jose, CA, was founded in 2002 and uses its unique, patent-pending software tools to quickly provide Complex Event Processing solutions to complicated data management and analysis problems.
Matthew Ghourdjian, the founder and Chief Technology Officer of Cogility Software Corporation, said, "Cogility's model-driven solutions are critical for addressing the problems and challenges Big Data presents. As datasets grow, they become awkward to manage because of their sheer size, the number of artifacts or discrete pieces of information contained in the database. Cogility's unique tools allow users to organize, manage, correlate and interrogate extremely large datasets or across multiple datasets, and to better understand and more effectively use the underlying information. We also plan to introduce Cogility for Hadoop, which will leverage Cogility's Big Data management capability for 'cloud' based data integrity and synchronization."
Acquired Sales also announced that Daniel F. Terry, Jr. has become the President and Chief Operating Officer of Acquired Sales, and the Chief Executive Officer of Cogility. Mr. Terry was a founder and former CEO of Mission 1st Group, Inc., a company that provides engineering, project design and implementation of mission-critical telecommunications systems worldwide. Mr. Terry previously held executive positions in several technology firms including NetFRAME, Micron, ConnectedSupport.com, and PCR, as well as having been a partner in the Hong Kong consultancy CentrePoint Ltd. Mr. Terry is involved with the Fisher House Foundation in support of U.S. wounded troops and their families, is the founder of the Call-Force Project to support employment of disabled veterans of the Iraq and Afghanistan conflicts, and serves on the Board of Directors of the Metropolitan Opera, New York.
Gerard M. Jacobs, the CEO of Acquired Sales and the former CEO of Metal Management, Inc. and Think Partnership Inc., stated, "The patent-pending Big Data management and Complex Event Processing analytic solutions created by Cogility Software Corporation are unique. They have been gaining significant traction with U.S. military and commercial customers with complex information management requirements, without any advertising or promotional campaigns. Dan Terry is a proven company-builder who will build a professional sales and marketing organization around Cogility's fantastic software solutions, and I expect the results to be very impressive. Dan and I will also plan to collaborate on additional acquisitions that will accelerate Acquired Sales' growth and diversify Acquired Sales' revenue beyond software solutions."
Daniel F. Terry, Jr., the new President and COO of Acquired Sales and CEO of Cogility Software Corporation stated, "Cogility has created a unique, integrated, model-driven development environment that allows it to quickly design and implement complex, event-driven composite applications. I personally believe that Cogility is the most advanced development environment available in the U.S. today, and that when properly marketed, Cogility will become the recognized worldwide leader in Big Data management and Complex Event Processing solutions." Mr. Terry added, "Using Acquired Sales as an acquisition platform will allow Gerry Jacobs and me to build a diversified, stable company in the midst of the turmoil and uncertainty that define our economic situation and equity markets today. I am excited to be working in such a dynamic corporate culture."
Cautionary Statements Regarding Forward-Looking Information
This release may contain forward-looking statements, including statements about Acquired Sales Corp.'s and Cogility Software Corporation's financial condition, results of operations, earnings outlook and prospects. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project" and other similar words and expressions.
These forward-looking statements involve certain risks and uncertainties. Our ability to predict results or the actual effects of our plans and strategies is subject to inherent uncertainty. Factors that may cause actual results or earnings to differ materially from these forward-looking statements include those discussed and identified in filings we make with the United States Securities and Exchange Commission ("SEC"), including the risk factors described in the Acquired Sales' Form 8-K which we filed with the SEC on October 4, 2011.
Because these forward-looking statements are subject to assumptions and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this release. All subsequent written and oral forward-looking statements concerning the matters addressed in this release and attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this release. Except to the extent required by applicable law or regulation, we undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release.